S&P Global Ratings assigned an "AA-" long-term rating to Minneapolis-based Allina Health System's series 2017 taxable revenue bonds and series 2017A tax-exempt revenue refunding bonds.
S&P also affirmed the ratings on Allina Health System's following bonds:
- "AA-" rating on its series 1993B healthcare system revenue bonds
- "AA-" rating on its series 1998A fixed-rate insured bonds
- "AA-" rating on its series 2007A fixed-rate insured bonds
- "AA-" rating on its series 2007C variable-rate demand bonds
- "AA-" rating on its series 2009A1 bonds
- "AA-" rating on its series 2009A2 bonds
- "AA-" rating on its series 2015 taxable revenue bonds
- "AAA/A-1+" rating on its series 2007C-1 variable-rate demand bonds
- "AAA/A-1+" rating on its series 2007C-2 variable-rate demand bonds
"The 'AA-' rating reflects our view of Allina Health's continued strong enterprise profile, including a leading market position in a competitive but large service area of the 11-county Twin City metro area, its investments in preparing the organization for the ongoing shift toward value-based reimbursement, and its focus on leveraging its large clinically integrated network and data analytics to reduce the overall cost of care," said S&P analyst Suzie Desai.
The outlook is stable, reflecting S&P Global Ratings' anticipation the health system will maintain its leading market position and continue making incremental improvements to its balance sheet measures.